Fixed income is the world's most traded asset class — more than 3x the size of the global equities market. The fixed income market is also rapidly evolving.
Whereas nearly all equities trading is done electronically, the electronic trading revolution in fixed income is just beginning. In 2013, only 8% of investment-grade corporate bond volume was traded electronically. In 2022, that number was 45%.
Despite this, innovation in fixed income has been stifled by infrastructure that cannot meet the expectations of tech-forward firms. Fixed income trading is ruled by a disjointed set of systems that lack the standardization, simplicity, and efficiency that are table-stakes in the equities market. Even basic reference and market data are hard to come by, with typical data agreements often veering into 7-figure contracts with months-long deployment timelines and strict redistribution terms.
The result? Painful integrations for platforms looking to offer fixed income, clunky and opaque trading experiences for advisors and wealth managers, and poor execution quality for end investors.
Enter Moment. Our modern APIs enable wealth management firms to deliver a complete fixed income solution to their clients — including automated best execution across every source of liquidity, real-time risk management capabilities, and comprehensive data and analytics tailored to digital platforms.
To accomplish this bold mission, we've assembled a team of all-stars who are brilliant, humble, and have deep expertise across the fixed income stack. Members of Moment's team have led fixed income trading and technology groups at the world's leading financial institutions — including Virtu Financial, Chicago Trading Company, and Bank of America.
Today, we are proud to announce that we've raised over $20M in funding, including a $17M Series A led by Andreessen Horowitz, with participation from Venrock, Contrary, Neo, and Henry R. Kravis. Our investors share our vision for a fair and efficient fixed income market, and we are grateful for their conviction in our team and mission.
We are also excited to share that we have begun rolling out Moment to over 220 clients in collaboration with Apex Fintech Solutions — the global leader in clearing and custody for fintechs, representing over $120 billion in assets under custody. Apex powers some of the world's most forward-thinking fintechs, including award-winning brokerages and investing platforms such as Public and Titan . We look forward to the opportunity to introduce fixed income to more than 24 million investors across the globe with Apex.
Join us on our mission to revolutionize capital markets and make fixed income more accessible, transparent, and efficient for all investors.